Mike Norman Economics

The Powell memo.Bill Mitchell – billy blogAn international, worldwide far-right attack on the universitiesBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

However, and this goes back to BofA's key warning, "the challenge for investors is that with a divided Congress and appetites for budget austerity rising in both parties, 2021 could also become a record year via the fastest and largest fiscal contraction in history" according to Woodard who says that the "best historical comparison might be 2010-2015, which also featured a Democratic president, divided Congress, and an iceberg of austerity keeping the economy in a freeze." The next chart...

A liberal democracy depends on equal rights and equal opportunity, not equal outcomes. Without equal rights being enforced and equal opportunity guaranteed, outcomes are likely to be biased by asymmetries, especially power.I would say that the title should read "narrow" rather than "close." The JG is not a panacea. But in a capitalist monetary production economy it is a sine qua non for addressing asymmetry affecting markets. However, comprehensive change requires social, political and...

 El Paso public health officials announced 1,512 new COVID-19 cases including 151 additional delayed cases.El Paso stands at 72,238 cases. Fifteen additional deaths were reported, raising the death toll to 756.More than 1,500 new COVID-19 cases reported; 15 additional deathsDr Eric Feigl-Ding https://twitter.com/DrEricDing/status/1327836536424042498?s=19?NEW: Chilling video of El Paso jail inmates hired to move bodies of #COVID19 deceased patients into mobile overflow morgues. Inmates wear...

Under rated rock and roll lament.... fantastic Christendumb troll... [embedded content] Hey you Sometimes I think this woman is kinda hot Sometimes I think this woman is sometimes not Puts me down, fools me around What's she doing to me? Out for satisfaction, any piece of action That ain't the way it should be She needs love, smells out a man She's gotta see Pours my beer, licks my ear Brings out the devil in me Hell ain't a bad place to be Spends my money, drinks my booze, stays out...

The contingent election. Quirks of the US Constitution.Zero HedgeDonald Trump's Likeliest Path To Staying In OfficePaul du Quenoy via TheCritic.co.uk

Download paper.The Gower Initiative for Modern Monetary Studies Weimar Republic Hyperinflation through a Modern Monetary Theory LensPhil Armstrong and Warren Mosler

Tomorrow a new trade agreement between 15 Asian states will be signed. It will soon be seen as a milestone in the global economic history. But only very few 'western' media have taken note of it or of the huge consequences the new agreement will have.The agreement is also a huge victory for China over U.S. hegemony in Asia:Moon of AlabamaThe Huge New Trade Deal 'Western' Media Do Not Like To Talk AboutSee alsoThe GeopoliticsUS Strategy for the Indo-Pacific Under the Biden Administration: A...

The creation of new economic sectors is needed now more than ever as huge numbers of people around the world are out of work with limited prospects. As governments race to design stimulus packages, it could be tempting to fall back on tried-and-true economic sectors like fossil fuels, but the data simply is no longer there to back it. Forward-thinking jobs creation in sectors like electric vehicles and renewable energy is no longer an idealist’s dream--it’s the pragmatic choice.Sometimes it...

ECNSChina leads world 5G development with 700,000 base stationsChina-developed COVID-19 vaccine to enter late-stage trial in UzbekistanChina ranks 1st in 4 major areas of scientific researchThis is the year that the goal of eliminating absolute poverty was to be accomplished.China's Xinjiang shakes off absolute povertyChina [Yunnan] province with largest remaining poor population eliminates absolute poverty